IT Examiner School eBook

Internal Use Only

Module Objectives

1. Describe the Benefits and Risks Associated with Outsourcing Technology Services

2. Discuss the Components of Comprehensive Third-Party (Vendor) Risk Management Program

Internal Use Only

Outsourcing Technology Services Examples:

• The origination, processing, and settlement of payments and financial transactions (Core processes at a community bank); • Information processing related to customer account creation and maintenance; • Other information and transaction processing activities that support critical banking functions (Support functions like payroll)